May 2019 Australian building permits data
+0.7% m/m
- expected 0.0% m/m, prior -4.7%
-19.6% y/y
- expected -21.5% y/y, prior -24.2%
This data set is volatile, but still, a beat is a beat! The downtrend is still very much in place, the y/y is weak. House prices have been showing signs of stabilising so maybe there is a turnaround on the cards. it'll be a good way off though.
